Approval of Bondholder Amendments by Baltic Horizon Fund
Baltic Horizon Fund recently sought the approval of its bondholders for significant amendments to the terms and conditions of its EUR 42 million 5-year floating rate bonds set to mature in 2028. This initiative, focused on improving the bond terms, was launched through a written procedure to streamline communication and decision-making among bondholders.
Voting Process and Results
To ensure credibility and thoroughness in the voting process, only those bondholders who were registered in the official bondholder registry maintained by Nasdaq CSD SE were allowed to participate. On the designated date, an impressive number of holders representing a total nominal value of EUR 18,999,997.80, which amounts to 100% of all Bonds, actively voted in favor of the proposed amendments.
Unanimous Support for Amendments
The bondholders expressed their unanimous support for the proposed changes to the voluntary early redemption provisions of the Bonds. This favorable outcome allows Baltic Horizon Fund the flexibility to execute voluntary early redemptions in tranches of at least EUR 3 million, a move that underscores the fund’s proactive management approach and commitment to maximizing value for its investors.
Publication of Amendments
Following the approval, Baltic Horizon Fund announced that the amended Terms and Conditions will be made available on their website within three business days. This transparency is crucial for maintaining trust and ensuring that all stakeholders are informed about the changes that may affect their investments.
About Baltic Horizon Fund
Baltic Horizon Fund is a unique public closed-end real estate fund operating under Estonian law and is managed by Northern Horizon Capital AS, a licensed Alternative Investment Fund Manager. The fund and its management are subject to oversight by the Estonian Financial Supervision Authority, ensuring compliance and protection for investors.
Contact Information
If you require any further information or have inquiries regarding the amendments and investment opportunities, please reach out to Tarmo Karotam, the manager of Baltic Horizon Fund, at tarmo.karotam@nh-cap.com.
Frequently Asked Questions
What amendments were approved by the bondholders?
Bondholders approved changes to the voluntary early redemption provisions, allowing the fund to redeem portions of bonds early.
How many bondholders participated in the voting?
All registered bondholders, representing 100% of the Bonds' nominal value, participated in the voting process.
What is the minimum amount for voluntary early redemptions?
The fund can carry out voluntary early redemptions in tranches of at least EUR 3 million.
Where can I find the revised Terms and Conditions?
The amended Terms and Conditions will be published on the Baltic Horizon Fund’s website within three business days.
Who manages the Baltic Horizon Fund?
The fund is managed by Northern Horizon Capital AS, an authorized Alternative Investment Fund Manager under Estonian law.
